Company Clarifies a Number of Issues Raised by Its Stockholders
Jul 25, 2008 10:38:00 AM
NEW YORK, NY -- (MARKET WIRE) -- 07/25/08 -- Fortress Financial Group, Inc. (PINKSHEETS: FFGO) announced on July 24, 2008 that the Company had resolved to distribute an amount of US$400 million of its Gold Assets to its Stockholders, in the form of an Extraordinary Dividend.
This Extraordinary Dividend equates to an amount of 1.24 cents per share of Common Stock based upon the outstanding shares of the Company's Stock at July 24, 2008. The Company receives an amount of US$500 million in quoted Gold Mining stock ("Goldco") in exchange for its stockholding in the "Bouse" and "South Copperstone" Gold Mining & Exploration companies. This transaction will be consummated in August of 2008. Our calculations of this valuation are contained in the latest Form 8-K filings with the SEC.